Northpointe Bancshares (NYSE:NPB) Sets New 52-Week High - Time to Buy?

Key Points

• Northpointe Bancshares shares recently reached a new 52-week high of $18.86, with a last trading price of $18.30.
• Analysts have a moderate buy rating on the stock, with an average target price of $18.25, and two analysts rating it as a Buy.
• The company declared a quarterly dividend of $0.025 per share, yielding 0.5% annually, paid on August 4th.

Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $18.86 and last traded at $18.30, with a volume of 23151 shares changing hands. The stock had previously closed at $18.54.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NPB shares. Janney Montgomery Scott started coverage on shares of Northpointe Bancshares in a research report on Thursday, August 28th. They set a "neutral" rating and a $19.25 price target for the company. Piper Sandler increased their price target on shares of Northpointe Bancshares from $16.50 to $17.50 and gave the company an "overweight" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Northpointe Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $18.25.

Northpointe Bancshares Price Performance

The company has a debt-to-equity ratio of 2.16, a current ratio of 1.39 and a quick ratio of 1.32. The company's 50 day moving average is $16.46 and its 200-day moving average is $14.66.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $58.96 million during the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Tuesday, July 15th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, July 15th.

Insider Activity

In related news, Director David Stevens Hooker sold 65,161 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.21, for a total value of $1,186,581.81. Following the completion of the transaction, the director directly owned 834,879 shares in the company, valued at $15,203,146.59. This trade represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new stake in Northpointe Bancshares during the 1st quarter valued at about $26,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Northpointe Bancshares during the 2nd quarter valued at about $33,000. State of Wyoming bought a new stake in Northpointe Bancshares during the 2nd quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Northpointe Bancshares during the 2nd quarter valued at about $79,000. Finally, New York State Common Retirement Fund bought a new stake in Northpointe Bancshares during the 2nd quarter valued at about $97,000.

About Northpointe Bancshares

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.